Nippon India Mutual Fund has launched Nippon India Income Plus Arbitrage Active Fund of Fund, an open-ended Hybrid Fund of Fund scheme investing in debt and arbitrage funds.
The new fund offer or NFO of the scheme is open for subscription and will close on June 11. The scheme will reopen for continuous sale and repurchase on June 23.
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The scheme will be benchmarked against 60% CRISIL Short Term Bond Index + 40% Nifty 50 Arbitrage Index and will be managed by Rohit Hashmukh Shah and Sushil Hari Prasad Budhia.
The primary investment objective of the scheme is to achieve stable returns while navigating market volatilities for its investors. This objective will be pursued by strategically investing in a diversified portfolio of open-ended debt-oriented schemes, and units of arbitrage funds of Nippon India Mutual Fund or any other mutual fund(s).
The minimum application amount is of Rs 500 and in multiples of Re 1 thereafter. The minimum amount for additional investment is Rs 100 and in multiples of Re 1 thereafter.
The fund will allocate 95-100% in units of arbitrage fund and debt mutual fund schemes and 0-5% in debt and money market instruments.
Nippon India Income Plus Arbitrage Active Fund of Fund is an actively managed fund. The scheme shall invest in units of arbitrage and debt-oriented schemes subject to permissible limits The scheme has the flexibility to manage its allocation of its assets between arbitrage fund and debt-oriented schemes after evaluating various parameters like arbitrage spreads between the cash market and future and options market, credit risk, interest rate risk, liquidity risk and others as found suitable by the fund managers.
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The maximum total expense ratio (TER) permissible under Regulation 52 (6) (a) (iii) is up to 2%.
According to the Scheme Information Document, the scheme is suitable for investors who are seeking long-term capital appreciation and want an actively managed Fund of Fund that invests in debt and arbitrage funds.
The new fund offer or NFO of the scheme is open for subscription and will close on June 11. The scheme will reopen for continuous sale and repurchase on June 23.
Also Read | Volatile Markets and SIPs: What should mutual fund investors do?
The scheme will be benchmarked against 60% CRISIL Short Term Bond Index + 40% Nifty 50 Arbitrage Index and will be managed by Rohit Hashmukh Shah and Sushil Hari Prasad Budhia.
The primary investment objective of the scheme is to achieve stable returns while navigating market volatilities for its investors. This objective will be pursued by strategically investing in a diversified portfolio of open-ended debt-oriented schemes, and units of arbitrage funds of Nippon India Mutual Fund or any other mutual fund(s).
The minimum application amount is of Rs 500 and in multiples of Re 1 thereafter. The minimum amount for additional investment is Rs 100 and in multiples of Re 1 thereafter.
The fund will allocate 95-100% in units of arbitrage fund and debt mutual fund schemes and 0-5% in debt and money market instruments.
Nippon India Income Plus Arbitrage Active Fund of Fund is an actively managed fund. The scheme shall invest in units of arbitrage and debt-oriented schemes subject to permissible limits The scheme has the flexibility to manage its allocation of its assets between arbitrage fund and debt-oriented schemes after evaluating various parameters like arbitrage spreads between the cash market and future and options market, credit risk, interest rate risk, liquidity risk and others as found suitable by the fund managers.
Also Read | Smallcap mutual funds offer 8% average return in May, all equity mutual fund categories end with gains
The maximum total expense ratio (TER) permissible under Regulation 52 (6) (a) (iii) is up to 2%.
According to the Scheme Information Document, the scheme is suitable for investors who are seeking long-term capital appreciation and want an actively managed Fund of Fund that invests in debt and arbitrage funds.
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